🚨🚨Kyberswap Exploited || Remove LP and Revoke wallet

yhiaali3

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Quote from: bbc.reporter on December 01, 2023, 06:48:59 PM

Why was this thread transfered to scam accusations? Kyber did not scam. It was hacked and had $50 million stolen from the DEX. This is clearly not their fault.

Yes, it is true that it is better to move the topic to the exchanges section. Perhaps the Op thought that the topic was related to hacking, so he thought that this was the appropriate section.

In any case, it is no longer strange to hear about hacking exchanges every day. In the beginning, we used to hear about hacking central exchanges, but now this infection has spread to DEX and on-chain services.

The worst is the DEX that requests KYC, but since they have all the users' data they have to pay compensation to those affected.

bbc.reporter

legendary

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Why was this thread transfered to scam accusations? Kyber did not scam. It was hacked and had $50 million stolen from the DEX. This is clearly not their fault.

In any case, this is funny. This picture is being shared in social and if this is real it appears that the hacker has declared himself the director of the DEX hehehehe.

tvplus006

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Quote from: Gladitorcomeback on November 27, 2023, 10:55:40 AM

...It is some good news that users will be given back fund which they lost in this exploit. I don't think that people will use this dex more after this exploit because this is second time dex is facing same issue and they are not doing proper security setup to secure users fund...

In this case, it is not such a problem for users that this DEX has been hacked, the main thing is how the team solves the problem. And the fact that users will be reimbursed for the lost funds will be a positive signal for the entire community when KyberSwap operability is restored.

bbc.reporter

legendary

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Quote from: Husires on November 23, 2023, 12:42:46 AM

This DEX is a joke as it was hacked before and I am surprised if anyone used it again. Kyber Network team recovers $265 000 stolen in hack
https://getblock.net/en/news/kyber-network-team-recovers-265-000-stolen-in-hack
DEXs and smart contracts that are used to provide liquidity are vulnerable to such attacks and it is best to seriously consider using a Proof of Stake blockchain instead.

The hacker is very funny with his head shaking behavior. He hacked the DEX for $50 million and went to sleep because he needs rest hehehehehe.

I am not quite certain if this message from the hacker for Kyberswap is real, however hehe.

Gladitorcomeback

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Quote from: tvplus006 on November 26, 2023, 05:36:17 PM

Quote from: logfiles on November 23, 2023, 05:50:07 AM

These "Dexes" are a big joke. Is Kyberswap even a DEX? Last I recall, the needed KYC from their users and people still continued to use such? ..

I have used KyberSwap very often in various networks due to the fact that they have good liquidity, which allows you to exchange a large amount without slippage. But I have never been offered to pass KYC, as it is not required to trade on this DEX. It is a pity that KyberSwap has not yet solved the problems related to DEX security.

According to official news from Kyberswap,Frontrun bot able to recover 5.7 million of fund. These fund are on the Polygon and avalanche network. It is some good news that users will be given back fund which they lost in this exploit. I don't think that people will use this dex more after this exploit because this is second time dex is facing same issue and they are not doing proper security setup to secure users fund.

I checked out thay under every tweet is full of scammers link in the comments pretending to be Kyber admin and ask to connect wallet for recovery. I also near to be decieved but then judged when ask for connecting wallet. I think some people will lost fund however admin also warned in tweet

Fund recovery Source

tvplus006

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Quote from: logfiles on November 23, 2023, 05:50:07 AM

These "Dexes" are a big joke. Is Kyberswap even a DEX? Last I recall, the needed KYC from their users and people still continued to use such? ..

I have used KyberSwap very often in various networks due to the fact that they have good liquidity, which allows you to exchange a large amount without slippage. But I have never been offered to pass KYC, as it is not required to trade on this DEX. It is a pity that KyberSwap has not yet solved the problems related to DEX security.

Gladitorcomeback

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Quote from: Shishir99 on November 23, 2023, 06:10:36 AM

Quote from: logfiles on November 23, 2023, 05:50:07 AM

These "Dexes" are a big joke. Is Kyberswap even a DEX? Last I recall, the needed KYC from their users and people still continued to use such?

What bro? Dex asks its users to submit KYC. For what? Why? If users have to submit KYC to do transactions, what is the difference between DEX and CEX? If I can compromise my privacy, why do I have to use such DEX where my funds are not safe?

This is very strength that one dex asked for kyc and I completely agree with you that people prefer dex over Cex because they doesn't want to reveal identity but here situation is totally different. I searched for this and found that actually Kyberswap managed by Kyberswap protocol team which is regulated company under Singapore region and their dex is also regulated, This why user have to complete kyc for using it. complete details can be found in this post

Quote from: Shishir99 on November 23, 2023, 06:10:36 AM

At least CEX still refunds its users if they do not go bankrupt. If a user's account gets hacked, it's not their responsibility. But if the exchange gets hacked, it should be their responsibility to protect their users.

Kyberswap should also refund all users who lost fund in this exploit. Currently Kyberswap team is working to solve the exploit issue so that they can save user fund and then I hope team will announce something which will better for team and project.

Shishir99

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Quote from: logfiles on November 23, 2023, 05:50:07 AM

These "Dexes" are a big joke. Is Kyberswap even a DEX? Last I recall, the needed KYC from their users and people still continued to use such?

What bro? Dex asks its users to submit KYC. For what? Why? If users have to submit KYC to do transactions, what is the difference between DEX and CEX? If I can compromise my privacy, why do I have to use such DEX where my funds are not safe?

At least CEX still refunds its users if they do not go bankrupt. If a user's account gets hacked, it's not their responsibility. But if the exchange gets hacked, it should be their responsibility to protect their users.

LSDadventure

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Quote from: Gladitorcomeback on November 22, 2023, 08:44:03 PM

some days ago Poloniex exchange faced issue

Did hackers use hacked money on Poloniex to pump TRX days ago?

Quote

For Revoking use revoke.cash and revoke above address

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logfiles

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These "Dexes" are a big joke. Is Kyberswap even a DEX? Last I recall, the needed KYC from their users and people still continued to use such?
it's also one of the reasons I decided to keep off those ethereum smart contracts and their respective chains. Any exploit on a smart contract in one chain means that it cuts across the rest of the chains.

Funny enough, the hacker left an on chain message

Husires

legendary

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This DEX is a joke as it was hacked before and I am surprised if anyone used it again. Kyber Network team recovers $265 000 stolen in hack
https://getblock.net/en/news/kyber-network-team-recovers-265-000-stolen-in-hack
DEXs and smart contracts that are used to provide liquidity are vulnerable to such attacks and it is best to seriously consider using a Proof of Stake blockchain instead.

Gladitorcomeback

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Unfortunately Bad news for both Cex and Dex is not over yet. some days ago Poloniex exchange faced issue and now Kyberswap, an old dex working on cross chain transaction and aggregator has been exploited.

Any Bitcointalk member used this dex then kindly revoke your wallet for safety and also remove liquidity.

Here is contract address for Revoking your wallet.

Code:

0x6131b5fae19ea4f9d964eac0408e4408b66337b5

For Revoking use revoke.cash and revoke above address

You can check total number of stolen fund here

https://polygonscan.com//tx/0xb58c81460ef0167f492fb4900e9da60cc6fa1117bd5b67b2100bb5b5e5df8b0c

https://debank.com/profile/0xc9b826bad20872eb29f9b1d8af4befe8460b50c6

Source

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